Performance Bonds
These instruments appear to be causing consternation and difficulties for some provders. Indeed more than one provder has attempted to challenge the inclusion of the requirement for a Performance Bond in the tendering process.Providers frequently query: what these instruments are;
their validity;
the legality of the demands by purchasers that such a Bond should be in place;
costs involved
how they work.
The attached document sets out what these Bonds are, why they are used, what they mean for providers and
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